Mayday! It Is Law Day

May 1st, May Day, is a traditional day of pagan ritual. Since 1923, the term “mayday” has been a distress signal from a French phrase that means come and help me. In 1958, President Eisenhower established May 1st as Law Day in the United States.

In Eisenhower’s words, May 1st is, “a day of national dedication to the principle of government under law.” This year’s theme was “Law in the 21st Century: Enduring Traditions, Emerging Challenges,” and it is a celebration of the rich history of our judicial system as well as a time to consider its future in this rapidly changing world.

In 1958, America was recovering from a housing slump in which the market had declined for 11 straight quarters starting in 1956. The legal system was in place then as it is now. Americans have rights and legal options even in foreclosure and/or debt collection. To learn more, you can visit the US Department of Housing and Urban Development at www.hud.gov, or the Federal Trade Commission at www.ftc.gov.

If you are ready to cry “Mayday!” on your mortgage, talk to a HUD counselor or an attorney to find out what options are available to you. No one should go through foreclosure alone.